AON BOOKS 9% ORGANIC CORPORATE BROKING GROWTH

Aon reported better-than-expected organic growth in the first quarter of the year. The global broking giant’s Commercial Risk Solutions division booked organic growth of 9% in the quarter to $1.28bn, while Reinsurance Solutions achieved 6% growth to $922m. Wells Fargo had forecast 3% growth in Commercial Risk Solutions and 5% growth in Reinsurance Solutions. The Commercial Risk Solutions unit achieved “double-digit growth” in the US, Asia, and Latin America. The broker highlighted growth in the more discretionary portions of the business, including transaction liability and increased project-related work. On average globally, pricing was “modestly positive”, while exposures were flat, resulting in a “modestly positive” market impact. Growth in Reinsurance Solutions reflected new business generation, and growth in facultative placements.